New York, USA, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Edge Banding Materials Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Edge Banding Materials Market Information By Type, End-User, And Region - Forecast till 2030”, the market is estimated to grow at a 9.6% CAGR to reach USD 1,754.19 Million by 2030
Using edge banding, a thin material, the plywood's exposed and unfinished edges are sealed. Edge banding is a method for covering the exposed wood panel edges with thin strips of PVC, wood, or resin material, to put it another way. The banding process makes use of hot-melt adhesive and industry-grade heat applicators. It is used to cover the exposed surfaces of materials like particleboard or MDF, and plywood in furniture and construction to give the illusion of a more premium material. It can also be used in place of things like moulding and facial frames.
One of the key drivers of the edge bending materials market growth has been the soaring demand for edge banding materials among various end users, particularly in the residential and commercial sectors. There is a sizable market demand for the product as a result of the growing need for edge banding materials that are both user- and environmentally-friendly. Due to its widespread application and growth in the global construction industry, the market for edge banding materials as a whole is predicted to expand significantly over the forecast period. These edge banding materials have an advantage over wood fillers and painted edges in that they are more long-lasting and durable.
A further significant driver driving the global market is the rapidly expanding residential sector in emerging economies, which is driving up demand for edge banding materials.
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|Market Size in 2030||USD 1,754.19 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, End-User, And Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Increased demand for furniture as a result of the rising housing sector.|
|The increased need for user-friendly and sustainable edge banding materials.|
Major Key Players In The Edge Banding Materials Market:
- Coşkunuzer Mobilya Ltd. St
- Blažič robni trakovi
- Aero Plastics Inc.
- Dongguancity Hexing Decorative Material Co., Ltd
- EONCRED GROUP
- Unipegasus Profiles Pvt. Ltd
- Veena Polymers
- Doellken-Woodtape, Inc.
- Squareone Décor
- E3 Group
- Moderne Kunststoff-Technik
- Gdecor Industries India Private Limited
- REHAU India
- Among others.
The primary determinants are the expanding construction industry, particularly in a developing region like Asia Pacific, where the market for edge banding materials has experienced enormous growth. The market is expanding rapidly as a result of rising housing demand, rising furniture demand as a result, and rising need for user-friendly and environmentally friendly edge banding materials.
The need for edge banding materials is rising as a result of the residential sector's rapid expansion, particularly in developing nations.
These, in addition to being unsightly and creating scratches and nicks, can allow moisture to sneak through. This causes the wood to rot and become lumpy, posing a significant challenge for the leading market.
The increasing demand for eco-friendly and user-friendly edge banding materials is anticipated to directly affect the market's growth for edge banding materials throughout the course of the assessment year.
During the assessment period, it is anticipated that an increase in construction projects and advances in the interior design industry would open up new opportunities for the market for edge banding materials.
Recyclability, environmental concerns, various laws and regulations, fluctuating raw material costs, and other factors are all expected to have an adverse effect on the market for edge banding materials over the projected period. The rough edge can seriously harm furniture if it is left unattended.
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Covid 19 Analysis
Construction projects were abruptly put on hold in underdeveloped nations all over the world as a result of the covid 19 pandemic's onset. Furthermore, a slow development rate of the global edge banding materials market in 2020 can be attributed to delays in the completion of numerous projects caused by labour shortages, unstable economic conditions, and supply chain difficulties. As shutdown limitations in various nations are gradually lifted, it is anticipated that the market will start to show signs of resurgence.
Type, end-user industry, and region are the segments used to divide the worldwide edge banding materials market. The global market is further divided into plastics, wood, and other categories based on type.
The global edge banding materials market is divided into residential, commercial, and other segments based on end-user.
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North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa comprise the segments of the worldwide market. The rise of residential and commercial building activities is driving the market's growth in North America, which will account for the region's biggest market share during the projected period. The region of Europe is expected to grow at the fastest rate.
The growth of the region's edge banding materials market will be fueled by two factors: the expansion of the construction sector and the development of infrastructure.
In 2019, the Asia-Pacific region had the largest market share—more than 35%—and is anticipated to continue to dominate during the projected period. This is primarily due to the product's high demand in the building and furnishings industries. Edge banding material sales in Latin America are expected to grow as a result of the region's expanding commercial sector, educational institutions, and other factors. The Middle East and Africa region has made investments in its infrastructure over time. The industry for edge banding materials in this area is also projected to grow as a result of the expansion of several construction projects in the area.
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